Yao Pharma Establishes a joint venture with Jeil Pharmaceutical of Korea
Fosun Pharma’s subsidiary, Chongqing Yao Pharmaceutical Company Limited (“Yao Pharma”) and Jeil Pharmaceutical Co., Ltd. (“Jeil”) have established a joint venture company, Chongqing JeilYao Pharma Co., Ltd (“JeilYao Pharma”) on 25th September. The focus of this joint venture is on developing anti-infection products.
JeilYao Pharma is a comprehensive pharmaceutical company and established upon P/1023 project, which focuses on developing, manufacturing and promoting products in anti-infection field. China’s market size of anti-infection products amounted to RMB1 billion, industry practitioners are widely optimistic about the market prospect for anti-infection products. Fosun Pharma expected P/1023 to become an influential product in China’s anti-infection field in future, thereby, expanding the market size of Yao Pharma in this field and increasing its profitability.
Fosun Pharma expected this joint venture to be win-win cooperation for Yao Pharma and Jeil Pharma. Due to high technical barriers and huge difficulties in copying, only Korean companies master relatively mature generic technology of P/1023 now. Meanwhile, Jeil Pharma highly recognized the top quality of Yao Pharma’s production capability, outstanding marketing ability, as well as the complement between the two companies.
In the opening ceremony, Han Sang Chul, the Executive of Jeil said, P/1023 was the beginning of the cooperation between Fosun Pharma and Jeil. He expected to develop more new projects with Yao Pharma, and the two companies to become long-term and powerful partners. Liu Qiang, the chairman of Yao Pharma, said he would look forward to both parties to leverage on their own advantages. This would bring in more cooperation on other products and create further benefits to both companies.
JeilYao Pharma is a comprehensive pharmaceutical company and established upon P/1023 project, which focuses on developing, manufacturing and promoting products in anti-infection field. China’s market size of anti-infection products amounted to RMB1 billion, industry practitioners are widely optimistic about the market prospect for anti-infection products. Fosun Pharma expected P/1023 to become an influential product in China’s anti-infection field in future, thereby, expanding the market size of Yao Pharma in this field and increasing its profitability.
Fosun Pharma expected this joint venture to be win-win cooperation for Yao Pharma and Jeil Pharma. Due to high technical barriers and huge difficulties in copying, only Korean companies master relatively mature generic technology of P/1023 now. Meanwhile, Jeil Pharma highly recognized the top quality of Yao Pharma’s production capability, outstanding marketing ability, as well as the complement between the two companies.
In the opening ceremony, Han Sang Chul, the Executive of Jeil said, P/1023 was the beginning of the cooperation between Fosun Pharma and Jeil. He expected to develop more new projects with Yao Pharma, and the two companies to become long-term and powerful partners. Liu Qiang, the chairman of Yao Pharma, said he would look forward to both parties to leverage on their own advantages. This would bring in more cooperation on other products and create further benefits to both companies.